Long Pond Capital LP Makes New Investment in Golden Entertainment, Inc. $GDEN

Key Points

• Long Pond Capital LP has invested approximately $11.5 million in Golden Entertainment, acquiring 434,767 shares, which amounts to about 1.64% of the company.
• Golden Entertainment recently reported earnings of $0.17 per share, surpassing analysts' expectations of $0.14, and announced a quarterly dividend of $0.25 per share, yielding 4.0% annually.
• Several analysts have upgraded their ratings for Golden Entertainment, with an average target price of $35.33 and a consensus rating of "Moderate Buy."

Long Pond Capital LP bought a new position in Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 434,767 shares of the company's stock, valued at approximately $11,474,000. Long Pond Capital LP owned about 1.64% of Golden Entertainment as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its position in shares of Golden Entertainment by 405.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,871 shares of the company's stock worth $59,000 after buying an additional 1,501 shares during the period. Inscription Capital LLC acquired a new position in shares of Golden Entertainment during the first quarter worth approximately $165,000. GAMMA Investing LLC boosted its position in shares of Golden Entertainment by 1,136.9% during the first quarter. GAMMA Investing LLC now owns 6,729 shares of the company's stock worth $178,000 after buying an additional 6,185 shares during the period. Two Sigma Securities LLC boosted its position in shares of Golden Entertainment by 10.9% during the fourth quarter. Two Sigma Securities LLC now owns 7,219 shares of the company's stock worth $228,000 after buying an additional 709 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Golden Entertainment by 29.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,654 shares of the company's stock worth $202,000 after buying an additional 1,750 shares during the period. Institutional investors own 70.73% of the company's stock.

Golden Entertainment Trading Up 3.9%

Shares of NASDAQ:GDEN opened at $25.30 on Monday. The stock has a market capitalization of $661.80 million, a PE ratio of 46.85 and a beta of 1.83. Golden Entertainment, Inc. has a 1 year low of $22.66 and a 1 year high of $35.49. The firm has a fifty day moving average price of $28.41 and a 200 day moving average price of $28.19. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.95.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. The company had revenue of $163.62 million during the quarter, compared to analysts' expectations of $169.70 million. Analysts expect that Golden Entertainment, Inc. will post 0.2 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, September 25th. Golden Entertainment's dividend payout ratio is 185.19%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Golden Entertainment from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JMP Securities reduced their price objective on Golden Entertainment from $36.00 to $35.00 and set a "market outperform" rating for the company in a research report on Friday, July 18th. Citigroup reiterated an "outperform" rating on shares of Golden Entertainment in a research report on Friday, July 18th. Truist Financial cut Golden Entertainment from a "buy" rating to a "hold" rating and dropped their target price for the stock from $36.00 to $34.00 in a report on Wednesday, July 16th. Finally, Wells Fargo & Company dropped their target price on Golden Entertainment from $36.00 to $34.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Golden Entertainment presently has an average rating of "Moderate Buy" and an average target price of $35.33.

Golden Entertainment Company Profile

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.

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